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It will take an entire generation before kiwis want to live en masse in apartments. All the places you mention have an apartment culture, we do not. Imports will like them, especially from Asia but kiwis hardly at all.
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well, given housing prices, they either learn to live en masse in decent apartments or continue renting in garages and watch owning anything at all slip from their fingers forever. Guess what they will choose eventually? I doubt it will take an entire generation especially if decent apartments are constructed.
Originally posted by Bobsyouruncle View PostComment
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Or move to some place where they can still have a chance of getting a slice of the Kiwi dream.Originally posted by newbie investor View PostComment
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i have just sold a fully renovated 3 bedroom house with a good sized versatile garage in a good area for 225k..is that not affordable for everybodyOriginally posted by Wayne View PostComment
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We don't build decent apartments yet that's one part of the problem. When I went to Oz I loved apartments. They were huge, great facilities, generally speaking no quality issues. Whole different world. Here we build tiny sh*t boxes in the main. Anything decent quality is already close to a mil. I believe building an apartment is more expensive per sqm than a house by a considerable margin so the only way to build cheap ones is to make them small.Comment
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soon apartments in central auckland won't be affordable either
old warehouse in ponsonby sold for $7000/m2, maybe get 4? 1.5million apartments on that?
Ponsonby
9 Prosford St:
Features: 304m² section, 217m² warehouse, 5 parking spaces
Outcome: sold vacant for $2.35 million
nice large, 2 bed apartment in good part of town just sold for almost double CV of $865,000
Broadway Park, Gifford building, 18 Joseph Banks Terrace, unit 3B:
Features: 125m², 2 bedrooms, 2 bathrooms, 12m-long terrace, 2 parking spaces
Outcome: sold for $1.525 million
certainly Jim's got the kiwi dream at kiwi dream prices
have you defeated them?
your demonsComment
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New Zealand is the third most popular country with Chinese property investors. By March 2016 residential house prices in Auckland were up 11.6% year-on-year. A sudden uncontrolled flood of capital into an already extremely hot market like Auckland, coupled with low inventory seems fearful.Comment
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Seems marvelous you mean.
Existing property owners are quite happy thank you.The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.Comment
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This madness is spiralling out of control, and it's going to end in chaos.
The average home owner is indeed benefitting from the higher prices in Auckland, but it is rather meaningless if they intend to remain living in Auckland, becuase whatever gain they have made isn't going to be an advantage to them if buying in the same market. Therefore there isn't any political gain in having the house prices spiral forever higher with these particular voters.
if you split the electorate by home ownership status, here is the effect on them from higher Auckland housing prices:
1. renters: higher rent cost - negative opinion likely
2. First home buyers: higher cost to enter market - negative opinion likely
3. Home owner: higher house value negative/neutral/positive opinion depending on other factors (if looking to upsize - negative, if looking to downsize - positive)
4. Property investors: positive if relying on capital gain, negative if looking for cashflow positive properties. Also a negative as the soaring house price unaffordibilty is leading to tougher rules for investors, with more likely to come in the form of debt to income ratios.
it all adds up to a 2017 political election that will be fought entirely on this one issue, with the incumbent party is going to have a tough time explaining how they will solve it when they have failed to do it over the previous 9 years.Last edited by Kbkiwi; 03-09-2016, 04:22 PM.Comment
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That's what spin doctors are for: to blame evil landladies as the cause.Originally posted by Kbkiwi View PostComment
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Hahahahahahaha......This madness is spiralling out of control, and it's going to end in chaos.Comment
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and the left will have just as much trouble explaining how they will fix auckland as it was 30 years of their policies that have strangled growthOriginally posted by Kbkiwi View Post
10,000 state homes won't be built on the isthmus without a fight from normally left leaning voters who expect to keep their street full of bungalows and have no tax riseshave you defeated them?
your demonsComment
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This sort of thing doesn't help with housing affordability:
Squadly dinky do!Comment
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Originally posted by Davo36 View PostThis sort of thing doesn't help with housing affordability:
http://www.nzherald.co.nz/business/n...ectid=11706831
davo36 - can you or anyone else here tell me how the reselling of these properties in quick succession drive unaffordability? The original vendor, had they known the market price, would have sold at the final price as stated in the article.
this might be an article about the cost of not being able to accurately value an asset which the flippers did more accurately, but I don't see that frequency of sale is linked to higher prices...Comment
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Well I guess if the speculators weren't there then a family would have bought that house at the initial selling price and lived in it.
Instead of a family buying later for $100k more or so. So for them, it would have been more affordable right?
But having said all that, speculators play a role in markets. So I don't wan to see them banned or anything. https://en.wikipedia.org/wiki/Speculation.
So I guess maybe you could argue that the speculators are kind of highlighting the problem, which should lead to greater building volumes or something...Squadly dinky do!Comment
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